New investor: I don't want to quit my W2 but want to max investing to offset taxes

[Adriana McLaughlin]

I have a W2, but also have a real estate license, though I work very little in actually selling real estate. I just bought my first investment property in Chicago, and have been busy doing minor repairs, furnishing it, and getting it ready for rental. I am thinking of a second investment property but I am curious. If my AGI is over the $150k (not including husband's income) do we not qualify for tax write-offs/deductions? I don't want to quit my W2 job. But when you work 40 hours W2, you cannot work full time in real estate as well? What good reading resources should I get to understand the best ways for me to maximize real estate investing to offset the taxes we pay on our W2 income? TIA.

[Adriana McLaughlin]

Quote from @Jonathan Klemm:

Hey @Adriana McLaughlin - I am not a tax expert, so I am tagging @Steven Hamilton II and @Aaron Zimmerman both local Chicago accountants.

If you are even considering becoming a real estate professional and leaving your W-2, it sounds like you already have your answer—you should totally do it!

Is the next investment going to be in Chicago as well?  Out of curiosity, what neighborhood was the first property in, and how has it been going?

Not sure I want to leave my W2 - I have a good gig, hard to give it up. So maybe a 2nd property does not make sense now. I bought a condo in Lincoln Park, it is rented, but I already don't like dealing with an HOA, lol!